MMM Overview

Formally known as the Minnesota Mining and Manufacturing Company, 3M (MMM) is a diversified conglomerate corporation with a worldwide business presence. Formed in 1902 at Two Harbors, Minnesota, the company was founded by Henry S. Bryan, Herman W. Cable, John Dwan, William A, McGonagle, and Dr. J. Danley Budd.

3M began its existence by mining stone from quarries in order to sell the mineral corundum to manufacturers in the East for the use in grinding wheels. With the company failing to provide a marketable and quality product, 3M encouraged workers to come up with new and innovative products to help the company survive. These developments would lead to the company’s core business.

With the help from the company’s employees, 3M would develop the first exclusive product, Three-M-ite Cloth. This product, first introduced in 1914, is an aluminum oxide, resin bonded open-coat sandpaper for woodworking, plastic, leather and ferrous metals. Other, less popular inventions around this time were waterproof sandpapers in 1921 and masking tape in 1925, which would lead to the now famous “Scotch tape” brand.

In 1929, the company’s stock was first traded over the counter and in 1946, the stock was listed on the New York Stock Exchange (NYSE). 3M shares are currently a component of the Dow Jones Industrial Average and the S&P 500.

Further down the road, expansion came quickly to the company. Following World War II, 3M established operating plants all across the U.S. During the 1950s, 3M became an international company, with plant openings in Canada, France, Mexico, Australia, the U.K. and Germany.

Today, 3M has a global presence as a technology company with hands in several business segments, including Consumer and Office products, Industrial and Transportation, Safety, Security and Protection services, Display and Graphics, Health Care and Electro and Communications.

The Consumer and Office segment provides consumers with a variety of construction and home improvement products, protective material products, office supply products, home care products, stationery products and consumer health care products.

Well-known products in this segment from 3M include Scotch brand products, such as Scotch Magic Tape, Scotch Glue Stick, Scotch Cushioned Mailer, Scotch-Brite Scour Pads, Scotch-Brite Scrub Sponges, Scotch-Brite Microfiber Cloth products, O-Cel-O Sponges and Scotchgard Fabric Protectors. The company also provides Post-it Products, such as Post-it Flags, Post-it Note Pads, Post-it Labeling & Cover-up Tape, and Post-it Pop-up Notes and Dispensers.

In referring to the Industrial and Transportation segment, 3M presents such items as adhesives, tapes, filtration products, closures for hygiene products, coated and non-woven abrasives, specialty materials, and products that are used in the manufacturing, repair, and maintenance of automotive, aircraft and marine vehicles. Products also involved in such businesses as paper and packaging, appliances, electronics, food and beverage, automotive original equipment manufacturer and automotive aftermarket for auto body shops and retail.

Major industrial products include Scotch Masking Tape, Scotch Filament Tape and Scotch Packaging Tape, with other products including filtration products for the separation, clarification and purification of fluids and gases, engineering fluids, and closures for disposable diapers. In the transportation division, products include components for catalytic converters, abrasion-resistant films, fasteners and tapes for attaching trim, moldings, interior panels and carpeting. In addition, 3M provides paint finishing and detailing products, including a complete system of cleaners, polishes and waxes.

The Safety, Security, and Protection segment offers cleaning and protection products for commercial establishments, personal protection products, track and trace solutions, and roofing granules for asphalt shingles. The company’s Track and Trace Solutions business utilizes radio frequency identification technology to provide a growing array of solutions from library patron self-checkout systems to tracking packages.

Other products include Thinsulate Insulation and Thinsulate Lite Loft Insulation, floor matting spill-control sorbents, 3M Scotchtint Window Film for buildings and 3M Ultra Safety and Security Window Film for property and personal protection during destructive weather conditions.

The Display and Graphics business encompasses optical film solutions for electronic displays, computer screen filters, commercial graphic systems, and projection systems, including mobile display technology and visual systems products. The company also provides products for liquid crystal display (LCD) televisions.

Products from this division also include films, inks, digital signage systems and related products used to produce graphics for vehicles and signs. In traffic safety systems, 3M provides reflective sheeting used on highway signs, vehicle license plates, construction work-zone devices, trucks and other vehicles, and also provides pavement-marking systems.

The Health Care segment provides dental and orthodontic products, drug delivery systems, skin health and infection prevention products, medical and surgical supplies, health information systems, and anti-microbial solutions to medical clinics and hospitals. Their products are also supplied to pharmaceutical companies, dental and orthodontic practitioners, and health information systems.

Such products include medical tapes, dressings, wound closure products, orthopedic casting materials, stethoscopes, transdermal finishing and polishing products, crowns, tooth whiteners, prophylaxis and orthodontic appliances.

The last segment for 3M is Electro and Communications, which deals primarily with products used in the electrical, electronics and communications industries, including electrical utilities and electrical construction. Electronic and electrical products include packaging and interconnection devices, high-performance fluids used in the manufacturing of computer chips and for cooling electronics and lubricating computer hard disk drives.

3M is also responsible for the production of Flexible Circuits, which use electronic packaging and interconnection technology that provides more connections in less space. Such applications are used in ink-jet print cartridges, cell phones and other electronic devices.

In addition, the company produces the Aluminum Conductor Composite Reinforced (ACCR) electrical power cable that has an aluminum-based metal matrix at its core, which increases transmission capacity for power lines.

By BetterTrades